New York Times Co (NYT) Receives Consensus Rating of “Buy” from Analysts

New York Times Co (NYSE:NYT) has received a consensus rating of “Buy” from the seven brokerages that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $30.33.

Several analysts have recently commented on the stock. Zacks Investment Research raised shares of New York Times from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 10th. Cannonball Research raised shares of New York Times to a “buy” rating and set a $41.00 price target on the stock in a research report on Monday, March 18th. Finally, ValuEngine raised shares of New York Times from a “buy” rating to a “strong-buy” rating in a research report on Thursday, February 28th.

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Shares of NYT stock traded down $0.24 during trading on Friday, hitting $33.64. 883,573 shares of the stock traded hands, compared to its average volume of 2,080,624. The firm has a market cap of $5.58 billion, a PE ratio of 41.53 and a beta of 1.26. New York Times has a 52-week low of $21.34 and a 52-week high of $34.85.

New York Times (NYSE:NYT) last released its quarterly earnings results on Wednesday, February 6th. The company reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.04. The firm had revenue of $502.70 million for the quarter, compared to analyst estimates of $479.57 million. New York Times had a net margin of 7.19% and a return on equity of 13.61%. The business’s revenue for the quarter was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.39 EPS. On average, sell-side analysts forecast that New York Times will post 0.8 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Stockholders of record on Wednesday, April 3rd were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Tuesday, April 2nd. This is a positive change from New York Times’s previous quarterly dividend of $0.04. New York Times’s payout ratio is presently 24.69%.

In other New York Times news, insider Arthur G. Sulzberger sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $33.10, for a total value of $33,100.00. Following the sale, the insider now owns 39,638 shares of the company’s stock, valued at $1,312,017.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Arthur Sulzberger, Jr. sold 45,000 shares of the business’s stock in a transaction that occurred on Monday, February 11th. The shares were sold at an average price of $31.20, for a total value of $1,404,000.00. Following the completion of the sale, the director now directly owns 324,024 shares in the company, valued at approximately $10,109,548.80. The disclosure for this sale can be found here. In the last three months, insiders sold 166,642 shares of company stock worth $5,313,056. 2.70% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Investment Advisory Services LLC purchased a new stake in New York Times in the fourth quarter valued at approximately $43,000. Blume Capital Management Inc. grew its stake in shares of New York Times by 100.0% in the fourth quarter. Blume Capital Management Inc. now owns 2,000 shares of the company’s stock worth $45,000 after acquiring an additional 1,000 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of New York Times in the first quarter worth $95,000. Quantamental Technologies LLC acquired a new position in shares of New York Times in the fourth quarter worth $83,000. Finally, Ffcm LLC grew its stake in shares of New York Times by 172.9% in the fourth quarter. Ffcm LLC now owns 6,694 shares of the company’s stock worth $149,000 after acquiring an additional 4,241 shares in the last quarter. 90.76% of the stock is currently owned by institutional investors.

About New York Times

The New York Times Company, together with its subsidiaries, provides news and information for readers and viewers across various platforms worldwide. The company provides The New York Times (The Times), a daily and Sunday newspaper in the United States, as well as international edition of The Times; and operates the NYTimes.com Website.

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